Ubs Group

UBS Group buys IDFC shares worth Rs 88 cr through open market transaction

Swiss financial services company UBS Group on Wednesday bought shares of IDFC Ltd for Rs 88 crore through an open market transaction. According to the bulk deal data available with the NSE, UBS through its arm UBS Principal Capital Asia purchased 81,48,705 shares or 0.51 per cent stake in IDFC Ltd. The shares were acquired at an average price of Rs 107.92 apiece, taking the transaction value to Rs 87.94 crore. Details of the sellers of IDFC's shares could not be ascertained on the National Stock Exchange (NSE). Shares of IDFC fell 1.09 per cent to close at Rs 108.78 apiece on the NSE. Last month, IDFC First Bank announced the completion of the merger of IDFC Ltd with the bank. Post the amalgamation, there will be a simplified corporate structure at the Bank with no holding company. In July 2023, IDFC First Bank announced the merger of its parent IDFC Ltd with itself in an all-stock transaction, marking another major deal in the Indian banking space days after the amalgamation of

Yellow metal strategy: UBS raises Gold target to $2,750 by end of 2024

UBS analysts have raised gold's target to $2,750 per oz by end-2024 (from $2,600 per oz), $2,850 per oz by mid-2025 (from $2,700 per oz), and $2,900 per oz by end-3Q25 (from $2,750 per oz)

UBS Group completes acquisition of HDFC Bank shares valued at Rs 543 cr

Swiss financial services company UBS Group on Wednesday bought shares of private sector lender HDFC Bank for over Rs 543 crore through an open market transaction. According to the block deal data available on the BSE, UBS Group's arm UBS Principal Capital Asia purchased 30.72 lakh shares of Mumbai-based HDFC Bank. The shares were picked up at an average price of Rs 1,768.05 apiece, taking the transaction value to Rs 543.27 crore. These shares were offloaded by Paris-based BNP Paribas through its affiliate BNP Paribas Financial Markets at the same price. Shares of HDFC Bank rose 0.59 per cent to close at Rs 1,778.85 apiece on the BSE. In a separate block deal on the BSE, Goldman Sachs bought 5.52 lakh shares of Five-Star Business Finance for over Rs 45 crore through an open market transaction. The shares were acquired at an average price of Rs 824 apiece, taking the aggregate deal value to Rs 45.50 crore, the data showed on the exchange. Meanwhile, Singapore-based Duro Capital th

UBS makes Karofsky, Iqbal Khan wealth co-heads in management shakeup

Damian Vogel has been appointed Chief Risk Officer and will take over from Christian Bluhm, as part of a series of changes the bank is putting into effect from July 1

UBS gives Buy rating to PI, Navin; initiates coverage on 4 chemical stocks

Owing to the growth potential in the Indian chemical companies UBS has initiated coverage on four firms including PI Industries and Navin Fluorine International with 'Buy' ratings

UBS Group weighs Credit Suisse's China stake swap with Beijing govt

UBS put the Credit Suisse venture up for sale after taking control of its smaller Swiss rival when it collapsed last year

UBS Group plans to shut thousands of smaller Credit Suisse accounts in Asia

The lender is reviewing the accounts with a balance of around $2 million or less, said the people, who asked not to be identified discussing private information

UBS Group moves past $100 billion a year after Credit Suisse shock

Overnight, the client funds managed by its wealth unit jumped by about one-fifth to $3.4 trillion at the time.

Equity investors make best returns amid falling interest rates: UBS

Based on free-float market capitalisation in the FTSE All-World index, which spans the investable universe for a global investor, the US market accounts for a staggering 60.5 per cent of total value

UBS resumes buybacks, seeks more cost savings from Credit Suisse takeover

Shares in the bank dropped as much as 4%, with analysts pointing to slightly lower-than-expected profitability targets as revenue at the lender falls before the cost savings are achieved

ChrysCapital Management to raise $300 million to retain NSE stake

ChrysCapital bought a 5 per cent stake in NSE, one of the largest stock exchanges in the world, in 2016. The firm wants to keep its investment until the bourse goes public

UBS Group is calling time on Indian stocks' outperformance over China

Stocks in China have currently priced in "lots of negatives," making them poised for a sharp rebound when catalysts arrive, said Sunil Tirumalai, UBS' global emerging market strategist

UBS Group takes lead in $50 billion bond market left by Credit Suisse

The biggest winner in this market from the March demise of Credit Suisse - the leading arranger of Swiss franc bonds for most of the last 20 years

UBS names S Korea, India, others as 'slow' to nod Credit Suisse deal

The uncertainties in securing regulatory nods could also lead to winding down businesses and asset sales, when UBS faces "difficult jurisdictions or regulators", the bank said in the document

UBS Group AG to cut hundreds of wealth jobs in Asia as activity slows

UBS is battling muted client sentiment and activity levels in Asia-Pacific, where the regional business hub of Hong Kong has long been a booking center along with Singapore for China's ultra-wealthy

UBS smashes Q2 banking profit record on heels of Credit Suisse takeover

The $29 billion gain is a result of the accounting difference between the $3 billion price UBS paid for Credit Suisse and the value of the acquired lender's balance sheet

UBS Group seeks to hire several private bankers to serve India's rich

UBS, which exited the private-wealth market in India almost a decade ago, is among global firms from HSBC Holdings Plc to Julius Baer Group Ltd. taking increased bets there

UBS Group to cut two-thirds of Credit Suisse dealmakers in Asia-Pacific

That would cost about 200 jobs at its global banking division in Asia over the next couple of months, the people said, asking not to be identified because the matter is confidential

UBS fined nearly $400 mn over Credit Suisse's relationship with Archegos

Swiss banking giant UBS will pay nearly USD 400 million in fines to US, Swiss and UK banking authorities for the management failures of Credit Suisse, which UBS bought in June, related to how Credit Suisse handled its relationship with collapsed hedge fund Archegos Capital Management. Archegos failed in 2021, costing Wall Street banks billions of dollars in losses, and Credit Suisse took the brunt of the losses. The Swiss bank took more than USD 5 billion in losses from Archegos' failure, which over a period of two years, ultimately led to the fire sale of Credit Suisse to UBS in June. Credit Suisse management was found to give Archegos special treatment through its prime brokerage division, which caused the bank to take on undue risk when Archegos purchased a highly concentrated position in ViacomCBS. The firm's manager, Bill Hwang, is scheduled to face fraud charges for the collapse of Archegos in October. Credit Suisse failed to adequately manage the risk posed by Archegos despit

UBS Group AG is 'sole successor' to Credit Suisse's CDS, panel rules

Credit-default swaps tied to the debt of the two banks have been converging in recent months as investors bet on this outcome